Billionaire Mr. Gautam Adani’s group, Reliance Industries Ltd, and state-owned NTPC are among more than a dozen companies that have committed to investing approximately Rs. 4 lakh crore across various sectors in Madhya Pradesh. These commitments were announced on Monday during the state’s eighth edition of the Invest Madhya Pradesh summit.
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Mr. Adani pledged Rs. 1.1 lakh crore for pumped storage, cement, mining, smart meters, and thermal energy, along with an additional Rs. 1 lakh crore for a greenfield smart city, an airport project, and a coal-gasification project. He stated that these investments would generate over 1,20,000 jobs in Madhya Pradesh by 2030.
Reliance Industries committed Rs. 60,000 crore for biofuel projects, while NTPC Chairman and Managing Director Mr. Gurdeep Singh announced a Rs. 1.2 lakh crore investment to establish 2 GW of renewable power capacity in the state. NTPC is also exploring an additional Rs. 80,000 crore investment for two greenfield nuclear power plants.
Renewable energy company Avaada, led by Managing Director Mr. Vineet Mittal, plans to invest Rs. 50,000 crore over the next three to five years in solar, wind, pumped hydro storage, battery storage, and solar photovoltaic module manufacturing.
Other key investment commitments include:
- Torrent Power: Rs. 26,500 crore for renewable energy projects.
- Power Finance Corporation (PFC): Rs. 26,800 crore in lending support.
- Rural Electrification Corporation (REC): Rs. 21,000 crore in project funding.
- OPG Power Generation Pvt Ltd: Rs. 13,400 crore for battery storage, small modular reactors, green hydrogen, and hybrid power generation.
The final investment figures will be released at the end of the two-day summit on Tuesday.
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